Apple Raises Monthly AppleCare+ Prices For All iPhones— And You Can No Longer Buy The Warranty Upfront In Stores – Benzinga

Apple Inc. AAPL has increased the monthly subscription cost for its AppleCare+ service across all iPhone models in the U.S. 

What Happened: Apple has raised the monthly fee for AppleCare+ by 50 cents. The standard AppleCare+ for the iPhone 16 now costs $10.49 per month, up from $9.99, reported MacRumors on Tuesday.

This price hike affects all current iPhone models, including both the standard and Theft and Loss plans. However, the two-year AppleCare+ subscription prices, service fees, and deductibles remain unchanged, with the increase specific to monthly payments.

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Moreover, Apple has not changed the AppleCare+ subscription prices for iPad, Mac, or Apple Watch.

Apple did not immediately respond to Benzinga’s request for comments.

Why It Matters: On Sunday, Bloomberg’s Mark Gurman reported that Apple retail stores will stop offering AppleCare+ as a one-time purchase starting next week. Instead, AppleCare+ will only be available as a subscription in stores.

For instance, coverage for the iPhone 16 Pro Max costs $9.99 per month (before the price increase) or a one-time payment of $199 for two years. However, the upfront payment option will no longer be available in physical stores.

For now, Apple will continue to offer one-time AppleCare+ purchase options through its online store, he said.

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Last year, Apple also decided to increase the cost of battery replacements for the iPhone 16 Pro and iPhone 16 Pro Max by $20, bringing the new price to $119. The cost for battery replacement in the standard and “Plus” models remained unchanged.

Apple’s recent first-quarter earnings report revealed a revenue beat, with fiscal first-quarter revenue of $124.3 billion, surpassing analyst estimates. Services revenue reached $26.34 billion, an increase from $23.12 billion compared to the previous year.

Price Action: Apple’s stock declined 0.021% in after-hours trading, settling at $232.75. Earlier on Tuesday, it closed at $232.80, marking a 2.10% increase, according to Benzinga Pro data.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.